How is a small business able to afford to have talent to structure their business for success, take them to the next level or do a turnaround to improve financial or operational performance .
One option that is very attractive , is to retain an expert on a fractional basis.
A chief financial officer (CFO) is the senior executive responsible for managing the financial actions of a company. The CFO's duties include tracking cash flow and financial planning as well as analyzing the company's financial strengths and weaknesses and proposing corrective actions. The CFO is similar to a treasurer or controller because he is responsible for managing the finance and accounting divisions and for ensuring that the company's financial reports are accurate and completed in a timely manner.
Today, many CEOs have less time to devote to executing strategy, while at the same time uncertain environments increase the need for professional strategy development or to focus on an Exit Plan. As a result , Owners & CEOs are appointing CSOs. The CSO is a consultative role; part leader and part doer, with the responsibility of ensuring that execution of the strategy supports the strategy elements. This unique background takes a multitude of different operating experiences , and must include being both a creative thinker and i nfluential collaborator . CSOs are often executives who have worn many hats at a variety of companies or agencies before taking on the responsibilities and tasks that come with the job title .
Chief Executive Officer ("CEO") is responsible for leading the development and execution of the Company's long term strategy with a view to creating shareholder value. The CEO's leadership role also entails being ultimately responsible for al l day-to-day management decisions and for implementing the Company's long and short term plans.
The CEO acts as a direct liaison between the Board and management of the Company and communicates to the Board on behalf of management. The CEO also communicates on behalf of the Company to shareholders , employees , Government authorities , other stakeholders and the public .
Many people start a business based on a particular talent or set of skills that they can offer to others . Although these people may be very knowledgeable about their craft , more often than not, they do not have the same skillset on business. It's common to see the small business owner's lack the knowledge of optimal business models, best practices to grow the business , important formulas and ratios to determine the actual health of the company, nor the ability to anticipate the challenges that lie ahead.
Although these business owners will make sure that they have an attorney to look over a contract and an accountant to make sure they're filing their taxes right, rarely do they hire a consultant to help them run their business effectively and profitably. That is why you hear the statistics that 95% of startups not last 10 years. To the business owner's defense, the cost of hiring consultants is usually too high to high for the business owner to afford. This forces them to try to figure it out on their own and eventually fail. The 86 Group is changing that. We believe that proper guidance is vital to every organization , in most cases more than that of the attorney or accountant. Not saying these professionals are not important , but if your business fails, there is no need for the accountant or the attorney.
The 86 Group is providing strategy, marketing, and business consulting services at very affordable rates for all businesses and business sizes. You can receive the best business strategies through any one of our consulting, coaching, and trai ning services that meet your needs. The 86 Group del ivers these high profit strategies through multiple channels, from in person to virtual , giving everyone the ability to benefit.
For business owners , financial performance and shareholder value invariably come down to the quality of their decision-making.
More often than not, however, key decisions are clouded by changing assumptions , endless debate or ill-defined goals . I n the belief that its decisions are sound , management leaves enormous value on the table. Improving decisions-and how they're made. The 86 Group is a strategic management consulting group that helps businesses raise the quality of their decisions-and their decision-making processes. Finding opportunity in uncertainty. I n a world of moving targets , shifting terrain and unknown outcomes , The 86 Group is committed to helping key decision-makers achieve lasting improvements in performance and value creation . We help clients solve complex business problems by applying expertise in operations , finance , and growth